Is there a way to calculate PA and IL depreciation within Sage? Can we set up a separate book?

Is there a way to calculate state specific depreciation for Pennsylvania and Illinois?  Can a separate book be set up for these states?  How do you tell sage what the depreciation rules are or does the software automatically calculate?

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  • Hello taxcompliance,

    The Sage Fixed Assets Depreciation application is geared and coded for Federal Tax rules and regulations. The application does not have specific state tax rules and regulations included.

    The application just follows the rules for Federal Tax rules which means the 168 allowance % available is based on Federal rules and the list is hard coded for those percentages. If PA and IL follows the simple rules of just depreciating on regular MACRS depreciation then Sage Fixed Assets Depreciation can handle that.

    Give us an example as that will help us give you more specific guidance on this topic.

  • Hi Lovisa, 

    I am specifically looking to set up a new book in FAS for calculating Illinois state depreciation.  Prior to 2019, IL did not allow the 50% bonus deduction but instead allowed a double MACRS deduction.  If this is not possible in FAS, I understand as you mention above the software does not support state specific rules. 

    Thank you

  • Double MACRS deduction mostly known in the application as MF200 is allowed. If it now allows 50% 168 allowance then the method would be MA200 (Double Declining MACRS method with 168) with the 168% being 50. 

    I was more thinking of some other special type depreciation method and bonus setup.

    I hope this helps.

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  • Double MACRS deduction mostly known in the application as MF200 is allowed. If it now allows 50% 168 allowance then the method would be MA200 (Double Declining MACRS method with 168) with the 168% being 50. 

    I was more thinking of some other special type depreciation method and bonus setup.

    I hope this helps.

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